Molly Epstein, Ph.D. Board Member Out for Undergrad

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2 Molly Epstein, Ph.D. Associate Professor in the Practice of Management Communication Goizueta Business School, Emory University Teach communication in all programs, including BBA, MBA, and Ph.D. Direct the Communication Coaching Program Create pedagogical objectives curriculum and for the BBA core course Coach executives for Executive Education non-degree programs Train and coach executives and faculty from Emory Medical School, Woodruff Health Sciences, and Office of the President Serve on the BBA Program Committee Scholar in Residence and Director, CRI Leadership Academy Carr, Riggs & Ingram Design course curriculum and materials for twelve day-long soft skills courses for 600+ professional employees Train partners to faciltate courses Board Member Out for Undergrad 2

3 $1 billion/year in the USA No clear qualifications for coaches No agreed-upon standards for coaching outcomes Dangers of dependence upon coach No reliable metrics to evaluate effectiveness Blurred lines between business & personal Source: The Wild West of Executive Coaching, Harvard Business Review, Nov., 2004 Notes: 3

4 Is the executive Highly Motivated? YES Executives who get the most out of coaching have a fierce desire to learn & grow. NO Do not engage a coach to fix behavioral problems. Blamers, victims, and individuals with iron-clad belief systems don t change. Do the exec & coach have Good Chemistry? YES The right match is absolutely key to the success of the coaching experience. Without it, the trust required for the optimal executive performance will not develop. NO Do not engage a coach on the basis of reputation or experience without making sure that the fit is right. Has management made a Strong Commitment? YES The firm must have a true desire to retain an develop the coached executive. NO Do not engage a coach if the real agenda is to push the executive out or to fix a systemic issue beyond the control of the coached individual. Source: The Wild West of Executive Coaching, Harvard Business Review, Nov.,

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6 Why do executives quit their jobs? Poor Communication Source: Keeping Top Performers, Compensation and Benefits, Oct., % - lack of communication from top management. 37% - no promotions 34% - overwork 31% - poor company vision What drives engagement in a workplace setting? Source: Compensation and Talent Strategies that Minimize Turnover, Human Capital Insights: Compensation and Benefits. August, Manager investment in employee development Opportunity to learn new skills and take on new roles Relationships with peers 6

7 Words Positions of authority Stretch assignments Leadership opportunities Notes: 7

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9 Ask What are your passions? How can you bring those passions to work? (music) Listen and Respond The music industry fascinates you. Would you like to explore creating a business line that serves the music industry? Which projects most engage you? (fraud) We are expanding our fraud and forensics teams. Would you like to work with the team on project x? How can we make your role here more meaningful? ( ownership of a large client) You seem ready to take on ownership of a client. Let s begin a conversation about that. Which ways can we enhance your worklife balance? (Rotary) We encourage you to take an active role in the community. You have our full support to run for Rotary Club president. What would you change about your job? (obnoxious boss) We can rearrange the reporting structure so that you report elsewhere. 9

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12 Emotional Intelligence - the ability to identify and manage emotions in ourselves and in others. As your emotion emotional intelligence increases, you will increase your ability to: Be aware of, understand, and express yourself Be aware of, understand, and relate to others Deal with strong emotions and control impulses Adapt to change and solve problems of a personal or a social nature (Source: Source: R. Bar-On and J.D.A. Parker, eds Handbook of Emotional Intelligence. San Francisco: Jossey-Bass.) Emotional Intelligence Domains and Competencies Personal Competence how we manage ourselves Self-awareness Self-management Social Competence how we manage relationships Social awareness Relationship management (Source: Goleman, Boyatzis, and McKee. (2002). Primal Leadership: Realizing the Power of Emotional Intelligence. Boston: Harvard Business School Press.) 12

13 Gain self-awareness through the Birkman Maximize productive behaviors Work efficiently Ensure your well-being Minimize unproductive behaviors Identify causes of stress Limit causes of stress Manage your behavior under stress Notes: 13

14 How does the Leadership Mirror 360-degree assessment work? Participants agree to take part in the assessment Links are sent to participants, direct reports, managers, peers, and external customers Data is compiled across performance areas, and in each item within the performance areas What does the assessment include? Quantitative data Summary Report Detail Report Top Strengths and Development Needs Report Qualitative data Specific questions Open-ended questions 14

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17 Coaching Borrows from Both Consulting and Therapy ( Coach or Couch? Harvard Business Review, Jan., 2009.) Consulting Coaching Therapy Paid to come up with answers Focuses on organizational performance Strives for objectivity Provides quantitative analysis of problems Advises individual leaders on business matters Involves management in goal-setting Based on organizational ethics Paid for by the company Focuses on the future Fosters individual performance in a business context Helps executives discover their own path Paid to ask the right questions Tackles difficult issues at work and home Focuses on individual behavioral change Explores subjective experience Focuses on the past Diagnoses and treats dysfunction Based on medical ethics Paid for by the individual 17

18 Coaching by the Numbers (Summarized from What Can Coaches Do for You? Harvard Business Review, 2009.) How much does coaching cost? $500/hour median, with a low of $200/hour and a high of $3,500 hour. Is coaching personal? Are you frequently hired to address personal issues? 03% - Yes 97% - No Have you even assisted executives with personal issues? 76% - Yes 24% - No How necessary is certification in a coach? 29.2% - Very 28.5% - Not at all How long does a coach usually take? 7-12 months 18

19 Why Executive Coaching Works Engages people in customized ways Acknowledges and honors individuality Encourages self-awareness Live more consciously Contribute more richly Integrates personal development with organizational needs Source: The Wild West of Executive Coaching, Harvard Business Review, Nov., Notes: 19

20 Focus on strategic change Coaches s qualifications 65% - Experience coaching in a similar setting 61% - Clear methodology 50% - Quality of client list Contracts that specify Methodology Outcomes and timelines Source: The Wild West of Executive Coaching, Harvard Business Review, Nov., Notes: 20

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22 Why do executives quit their jobs? Poor Communication Source: Keeping Top Performers, Compensation and Benefits, Oct., % - lack of communication from top management. 37% - no promotions 34% - overwork 31% - poor company vision Notes: 22

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24 Top 20 Executive Search Firms ( 1. Boyden 2. Korn Ferry 3. TRANSEARCH 4. Egon Zehnder 5. N2Growth 6. Heidrick & Struggles 7. Russell Reynolds 8. Spencer stuart 9. Stanton Chase International 10. Bo Le Associates 11. Signium 12. Slayton Search Partners 13. Witt/Kieffer 14. DHR International 15. CTPartners 16. Polachi 17. Ridgeway Partners 18. Wyatt Jaffe 19. John Peebles Associates 20. RSR Partners Notes: 24

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